§ 64.2-753 Limitation on action contesting validity of revocable trust; distribution of trust property
A. A person may commence a judicial proceeding to contest the validity of a trust that was revocable at the settlor’s death within the earlier of:
2. Six months after the trustee sent the person a copy of the trust instrument and a notice informing the person of the trust’s existence, of the trustee’s name and address, and of the time allowed for commencing a proceeding.
B. Upon the death of the settlor of a trust that was revocable at the settlor’s death, the trustee may proceed to distribute the trust property in accordance with the terms of the trust. The trustee is not subject to liability for doing so unless:
1. The trustee knows of a pending judicial proceeding contesting the validity of the trust; or
2. A potential contestant has notified the trustee of a possible judicial proceeding to contest the trust and a judicial proceeding is commenced within 60 days after the contestant sent the notification.
C. A beneficiary of a trust that is determined to have been invalid is liable to return any distribution received.
History
This law was first created in 2005. The record of its establishment is cataloged in chapter 935 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 2 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 2007, chapter 218; in 2012, chapter 614.
2005, c. 935, § 55-546.04; 2007, c. 218; 2012, c. 614.